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The business community—and just about everyone, it seems—is glued to the news coming out of Wall Street. And it doesn’t look good.

While no one’s certain about the ramifications of these bank failures, buyouts and bail outs, it’s clear the landscape in several industries will have to change.

Shift over to the trend to build green, and it’s easy to see how the credit crunch could, at the very least, slow the movement’s momentum. On the one hand, it’s possible that going green will be viewed as a luxury. On the other, the more energy costs rise, the more incentive there is for developers to build green-certified buildings.

We asked architects, construction industry leaders and environmentalists around the region to weigh in on the subject. Here’s what they had to say:

Q: With credit reportedly in tight supply and the ongoing struggles on Wall Street, will the green building movement be affected? If so, how?

Robert Moore

Title: Executive director

Organization: Environmental Advocates of New York Inc.

Location: Albany

A: If anything, the current financial crisis could steer investment toward green building projects, since they offer a proven, reliable return on investment. Energy efficiency retrofits, on-site clean and renewable energy, and new green building construction may appear more attractive to investors as the economic climate discourages riskier speculation.

On the efficiency side, such projects often have a relatively short payback period to recoup up-front costs (in the five- to 10-year range). Any new green construction substantially increases real property value. And the beauty of investing in efficiency and renewables is that, as energy prices rise (the average price of electricity in New York has risen by almost 22 percent in the last year), payback periods are further reduced. Furthermore, savings on energy bills will continue to pile up for the life of the building.

Adding to this equation are the growing state and federal incentives for green design, which increase the likelihood that the industry will weather the current economic storm. ... As credit tightens and capital dries up, tax breaks and subsidies ... may make the difference between a project going forward or dying on the vine.

William G. Koonz

Title: Associate

Company: Saratoga Associates

Credentials: LEED Accredited Professional

Location: Saratoga Springs

A: The “Green Building” movement is a return to sensible design and construction practices that minimizes waste and maximizes the performance of a building.

Spending a few more dollars on the initial cost of a project can save long-term money during the lifespan of a building.

There is an obvious downturn in the construction industry due to the current economic climate. However, we are noticing that, outside of the developer market, people are becoming more conscious of sustainable design options. They’re becoming more conscious of the overall cost savings tied to more efficient systems. And the construction projects that are proceeding in this economy are more frequently doing so with a sustainable focus.

The U.S. Department of Energy published a report in 2006 stating that buildings use 12 percent of all water, produce 39 percent of CO2 omissions, produce 65 percent of all waste, consume 71 percent of all electricity and 39 percent of all total energy produced in the U.S. If we can save 30 percent of the electricity a building uses, 30 percent of building water usage, 50 percent of the waste produced—and save the owner on average of 8 to 9 percent in operating costs per year—we have succeeded in producing a better product that saves money.

Scott Goodwill

Title: Director, Albany office

Company: SMRT Architects and Engineers, P.C.

Credentials: Licensed engineer, LEED Accredited Professional

Location: Albany

A: Although financing for projects is becoming more difficult to obtain, we believe people will continue to use green strategies as long as it makes good fiscal sense.

At SMRT, we refer to this as “green for a reason.” The cost of energy is still a driving factor when designing any facility. Green strategies that focus on designing buildings that are more energy efficient and operate more effectively will reduce energy consumption and, therefore, save money throughout the life of the building.

It’s important to understand that green design does not automatically mean more money. The integration of building systems that are more efficient, using local materials where possible, even siting a building to take full advantage of day lighting and solar opportunities, are all green strategies that don’t necessarily cost any more upfront.

Given tight credit, it is possible that progressive or emerging green technologies—like micro wind turbines or translucent photovoltaic systems that cost more upfront—may suffer for the short term.

David J. Hollander

Title: Vice president of marketing and finance

Company: Sano-Rubin Construction Co. Inc.

Credentials: Company has completed green projects

Location: Albany

A: At Sano-Rubin Construction, we believe the green building movement is a long-term trend that’s at its genesis. It is really part of the greening of society. Consumers are demanding sustainable choices and green buildings are part of this.

Public, institutional and large corporate projects will very likely continue this trend. Sano-Rubin has just completed two such green projects—the Massry Center for the Arts at The College of Saint Rose and the Nixon Peabody law firm’s Albany office. Looking forward, we expect the number of green projects to increase as a percentage of total projects.

However, the credit crisis will affect all future construction projects, both residential and commercial. And unfortunately, the green building movement will be caught in this storm with projects being re-evaluated, downsized and perhaps delayed. Private and public owners may be forced to lower their goals and expectations, but the demand for green building, both natural and mandated, exists and is growing.

John P. Senisi

Title: Principal

Company: Synthesis LLP

Credentials: LEED Accredited Professional

Location: Schenectady

A: Two aspects to the “green” building movement are being affected by the current economic crisis: energy efficiency and sustainability.

Because of rising fuel costs, owners are looking more seriously at the life-cycle cost of operating buildings. Real estate studies have shown that buildings with inefficient envelopes are experiencing lower resale value. The future of “green” buildings with respect to energy efficient construction is looking brighter than ever.

However, because of the credit crisis, sustainability ... is experiencing a shift in focus. High first-cost sustainable investments, such as solar and other renewable energy production with larger capital outlays and longer pay backs, are being eliminated from projects as additional credit becomes harder to secure.

Thus we see a tendency toward creating better building envelopes and conserving energy, and a shift toward lower first-cost sustainable investments, such as utilizing more local labor and materials and reusing and recycling construction products.

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